Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get the Badge) saw a significant increase in short interest rates in December. As of December 30th, there was short interest of 1,990,000 shares, an increase of 60.5% from the December 15th total of 1,240,000 shares. Based on the total trading volume of 283,600 shares, the day-to-cover ratio is currently 7.0 days.
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CHMI has been the subject of many research reports. B. Riley reduced their price target on shares of Cherry Hill Mortgage Investment from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, October 25th. StockNews.com initiated shares of Cherry Hill Mortgage Investment in a research note on Wednesday, October 12. They set a “hold” rating for the company.
Cherry Hill Mortgage Investment Trading Down 0.3%
NYSE:CHMI opened at $6.44 on Thursday. Cherry Hill Mortgage Investment has a 1-year low of $4.58 and a 1-year high of $8.37. The company has a fifty-day average of $5.98 and a 200-day average of $6.09. The stock has a market capitalization of $135.17 million, a PE ratio of 2.47 and a beta of 1.18.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.27 dividend. The distribution date of this dividend is Thursday, December 29th. The annual dividend is $1.08 and yields 16.77%. Cherry Hill Mortgage Investment’s dividend yield is currently 41.38%.
Hedge Funds Are Heavy on Cherry Hill Mortgage Investments
Many hedge funds and other institutional investors have recently made changes to their positions on CHMI. Ritholtz Wealth Management raised its position in Cherry Hill Mortgage Investment by 14.5% in the third quarter. Ritholtz Wealth Management now owns 23,291 shares of the investment firm’s stock valued at $114,000 after purchasing an additional 2,957 shares during the period. State Street Corp raised its holdings in shares of Cherry Hill Mortgage Investment by 6.5% in the first quarter. State Street Corp now owns 51,982 shares of the investment firm’s stock valued at $414,000 after purchasing an additional 3,172 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Cherry Hill Mortgage Investment by 16.3% in the third quarter. Royal Bank of Canada now owns 26,262 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 3,688 shares during the quarter. last. Shaughnessy Asset Management LLC raised its holdings in shares of Cherry Hill Mortgage Investment by 10.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 50,392 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 4,593 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of Cherry Hill Mortgage Investment by 10.8% in the third quarter. Penserra Capital Management LLC now owns 47,419 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 4,640 shares during the period. last quarter. 16.87% of the stock is held by institutional investors.
About Cherry Hill Mortgage Investment
Cherry Hill Mortgage Investment Corp. is an agricultural finance company, that acquires, invests in and manages a group of senior mortgage rights. The company operates in the following segments: Investments in RMBS, Investments in Asset Based Services and all other segments. It is also stocked with agency-secured mortgage portfolios, prime jumbo mortgages and other residential mortgage assets.
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